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May 06, 2015 5:40 PM ET

Insurance

Company Overview of The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited

Company Overview

The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited provides mutual marine protection and indemnity insurance in respect of third party liabilities and expenses arising from owning ships or operating ships as principals. The company offers ship owners’ liability insurance and risk management solutions; and major casualty response, underwriting, risk management, claims management, and other services, as well as conducts events and seminars. It also provides loss prevention (LP) services, including ship inspection and PEME services; LP products, such as books/pamphlets library, checklists, videos, posters, and applications; and LP information, including LP bulletins, t...

90 Fenchurch Street

London,  EC3M 4ST

United Kingdom

Founded in 1869

Phone:

44 20 7283 4646

Fax:

44 20 7549 4243

Key Executives for The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited

Chairman and President
Age: 53
Deputy Chairman and Vice President
Deputy Chairman and Vice-President
Age: 62
Deputy Chairman and Vice-President
Compensation as of Fiscal Year 2014.

The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited Key Developments

The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited, Board Meeting, Oct 28, 2013

The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited, Board Meeting, Oct 28, 2013. Agenda: To consider approve appointment of Alan Olivier as Chairman and President; and to consider retirement of Dino Caroussis from the Board.

UK P&I Club Announces Management Changes

Alan Olivier was elected Chairman and President of the UK P&I Club at their Board meeting in Bermuda on 28 October 2013. He succeeds Mr. Dino Caroussis who has retired from the Board. Mr. Olivier, 53, Chief Executive Officer of Grindrod Limited, became a Director of the UK Club in 2000 and a Deputy Chairman in 2006. Mr. Caroussis, 61, of Chios Navigation, had been the Club's Chairman for the past five years, having joined the Board in 1996. Following the Club's Annual General Meeting, seven new Directors joined the UK Club Board. They are Sheikh Talal Al-Khalid Al Sabah of Kuwait Oil Tanker Company; Ms Angela Chao of Foremost Group, New York; Michael Fostiropoulos of Almi Tankers, Athens; Polys Hajioannou of Safe Bulkers, Athens; Edouard Louis-Dreyfus of Louis Dreyfus Armateurs, Paris; Paul Wogan of Gaslog, Monaco; and Riad Zein of Naftomar Shipping & Trading, Athens.

United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Announces Amendments to Interest and Redemption Provisions of Capital Securities

The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited announced the results of, and the New Margin for the purposes of, its invitation (such invitation, the Solicitation) to holders (the Holders) of its outstanding USD 100,000,000 Perpetual Subordinated Capital Securities (ISIN: XS0382144979; the Capital Securities) to approve, by Extraordinary Resolution, a proposal (the Proposal) to consent to the making of (i) certain amendments to the interest and redemption provisions contained within the terms and conditions of the Capital Securities (the Conditions) and (ii) certain consequential amendments to the trust deed constituting the Capital Securities (the Trust Deed). The company announced that at the at the Meeting, the Extraordinary Resolution was duly passed and the Proposal approved; and (b) the Supplemental Trust Deed referred to in the Extraordinary Resolution has been executed by the Issuer and the Trustee, and the Conditions and the Trust Deed have been amended accordingly. Accordingly, the Issuer will pay to each Holder from whom a Solicitation Instruction in favour of the Extraordinary Resolution was received prior to the Early Instruction Deadline an amount of USD 5 for each USD 1,000 in principal amount of the Capital Securities that are the subject of such Solicitation Instruction. Each such amount will be paid by no later than 12 June 2013 as further described in the Consent Solicitation Memorandum.

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